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States are expected to get ₹1 lakh crore from royalty and e-auction amounts from the sale of 16 coal blocks till Friday.
Besides, reverse auction for the power sector will result in benefits to the tune of ₹37,050 crore to end-users by way of a cut in tariff, said Coal Secretary Anil Swarup.
“The value of the coal blocks that are being sold is being generated from three aspects – the e-auction amount which goes to the States, the royalty amount that will also go to the States and the value from reduction in power tariffs that the consumers will enjoy in the States where power plants are selling the electricity,” he said.
From the 16 blocks sold so far, including power sector blocks, the e-auction bid amount going to the States over the mine life is ₹83,622 crore, while royalty will be around ₹11,298 crore.
Swarup said by March 31, 83 blocks will be given to new owners by way of auctions and allotments to State and Central public sector units.
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